Transferring Loan Books | Connective Wiki

Subject to any applicable agreements, Connective members may sell or transfer their loan books to other Connective members, or externally.

There is a $300+GST fee for this service which will be automatically billed or deducted from the destination company.

Transferring Loan accounts from one Connective Partner group to another

The Principal Owner of the business transferring their book emails [email protected] with an enquiry to Transfer Loan Books.
The Commissions Team send an Assignment Agreement to the requesting party to sign and return with instructions on transferring either the whole Trail Book or specific Loan Accounts. If there are multiple Principal Owners, then they must all sign the Assignment Agreement.
Upon receipt of these documents and approval from a Connective Director, the Connective Commissions team will transfer the loans to the new owner.

This process is followed when a Broker decides to sell their Trail Book to a Broker that is accredited with a different Aggregator:

The Principal Owner of the business transferring their book emails [email protected] with an enquiry to Transfer Loan Books.
The Principal Owner submits a Letter of Authority signed by all Principal Owners to transfer Loan Books with a supplied list of deals.
To transfer the accounts, the Assignee needs to contact their Aggregator to organise.
The Aggregator needs to contact Connective who will release Authorisation Letters for each Lender upon approval from a Connective Director.

This process is followed when a Broker decides to leave Connective and becomes a full member with a new Aggregator:

The Principal Owner must contact the Broker's new Aggregator to organise the transfer.
A Letter of Consent must be provided by the Principal Owner of the partner group and sent to [email protected]
The new Aggregator must contact Connective who will release Authorisation Letters for each lender.
The new Aggregator will then proceed with the remainder of the transfer.

NOTE: If the transfer also includes data/contacts/CRM, please refer to the following article: